Bitunix Analyst: Political Signals Replace Data Gaps, Risk Assets Enter a Wait-and-See Pricing Phase

BlockBeats News, February 6th—Against the backdrop of delayed release of key economic data and temporarily unfocused policy guidance, the market's sensitivity to political events has significantly increased. On the eve of the Japanese election, Trump made a high-profile public appearance in support of Sanae Takaichi, breaking the tradition of U.S. presidents avoiding involvement in allied elections. This has brought political uncertainty into risk pricing ahead of schedule, prompting funds to converge and reduce exposure in advance.

The impact of this event is not limited to the Japanese election itself, but lies in the policy continuity risks it symbolizes. The former U.S. president's direct intervention in the domestic affairs of a key ally with his personal influence has led the market to reassess the future of U.S.-Japan relations, trade and tariff positions, as well as the stability of the Indo-Pacific strategy. In the absence of non-farm payroll data, political signals have become one of the few short-term directional variables that can be interpreted.

On a cross-market level, the overlap of election and geopolitical risks has prompted some funds to turn conservative before the weekend. Risk appetite for yen-related positions and high-volatility arbitrage trades has declined, reflecting that the market is not yet ready to re-expand risk.

At this stage, the crypto market is more like a reflection of overall risk sentiment. BTC has already fallen back to near the weekly demand zone, with the current price around $66,000. The key structural range below is at $62,000–$60,000; to the upside, the market needs to reclaim the $71,000–$73,000 range before there is room for improvement in risk appetite. Before political uncertainty is digested, prices will mainly focus on consolidation and rebalancing after deleveraging.